Citicorp-Travelers Merger
Shakes Up Wall Street Rivals

The financial-services landscape changed overnight, literally, with the announcement of Citicorp 's plan to merge with Travelers Group Inc. in the largest corporate combination in history.

Suddenly, the focus has shifted away from which competitors will team up within their own sectors such as securities or banking, and toward "convergence, where insurers, broker-dealers and banks will combine to have a single delivery system...